• 21/05/2024 07:22

The NBU says that exchange rate fluctuations do not pose any threat

The recent increase in the dollar/hryvnia exchange rate is caused by market factors that do not pose a threat to market stability. This was stated by the head of the NBU Andriy Pyshny.

The NBU says that exchange rate fluctuations do not pose any threat

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According to the head of the NBU, the regulator operates in the “exchange rate flexibility” mode, which involves fluctuations under the influence of supply and demand, which is what is observed now.

“We are gradually returning to to the usual parameters that existed before the war,” he said.

Pyshny added that the NBU will maintain a presence in the market. “The fluctuations that we are seeing now do not pose any threat. This dynamics is completely safe and is determined by market prerequisites,” said the head of the NBU.

Read: Banks have increased the cash exchange rate of the dollar

Pyshny noted that Now the situation on the market is stabilizing.

Deputy head of the NBU Yuriy Heletiy also noted that the situation on the foreign exchange market “remains under control.”

“The NBU is an active participant, we are ready to smooth out excessive fluctuations which we demonstrate. “We have a sufficient supply of gold and foreign exchange reserves,” he said and added that more than 50% of transactions on the interbank market take place without the participation of the NBU — that’s more than $100 million a day.


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